88,600 Silicon Motion Technology Corporation $SIMO Shares Acquired by Bahl & Gaynor LLC

Bahl & Gaynor LLC raised its position in shares of Silicon Motion Technology Corporation (NASDAQ:SIMO) by 19.5% during the 3rd quarter, Holdings Channel reports. The fund owned 541,907 shares of the semiconductor producer’s stock after purchasing an additional 88,600 shares during the period. Bahl & Gaynor LLC’s holdings in Silicon Motion Technology were worth $151,734,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Hawk Ridge Capital Management LP grew its holdings in shares of Silicon Motion Technology by 48.9% in the first quarter. Hawk Ridge Capital Management LP now owns 1,173,315 shares of the semiconductor producer’s stock valued at $131,752,000 after purchasing an additional 385,568 shares in the last quarter. Lazard Asset Management LLC raised its stake in Silicon Motion Technology by 3.1% during the first quarter. Lazard Asset Management LLC now owns 781,981 shares of the semiconductor producer’s stock valued at $87,809,000 after purchasing an additional 23,403 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Silicon Motion Technology by 112.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 425,697 shares of the semiconductor producer’s stock valued at $47,802,000 after purchasing an additional 225,221 shares during the last quarter. Schwartz Investment Counsel Inc. lifted its position in Silicon Motion Technology by 48.6% during the third quarter. Schwartz Investment Counsel Inc. now owns 401,300 shares of the semiconductor producer’s stock valued at $112,364,000 after purchasing an additional 131,300 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its position in Silicon Motion Technology by 2.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 307,570 shares of the semiconductor producer’s stock valued at $86,120,000 after purchasing an additional 7,871 shares during the last quarter. 78.02% of the stock is currently owned by institutional investors.

Silicon Motion Technology Stock Down 1.7%

Shares of SIMO opened at $169.01 on Wednesday. The company has a market cap of $5.73 billion, a PE ratio of 18.54, a P/E/G ratio of 0.31 and a beta of 1.78. The business has a fifty day moving average of $238.40 and a 200 day moving average of $215.70. Silicon Motion Technology Corporation has a 52-week low of $79.76 and a 52-week high of $355.00. The company has a quick ratio of 3.65, a current ratio of 5.68 and a debt-to-equity ratio of 1.00.

Silicon Motion Technology (NASDAQ:SIMO) last posted its quarterly earnings data on Wednesday, October 28th. The semiconductor producer reported $4.35 EPS for the quarter, topping the consensus estimate of $3.30 by $1.05. Silicon Motion Technology had a net margin of 19.36% and a return on equity of 32.29%. The company had revenue of $560.22 million during the quarter, compared to analyst estimates of $529.10 million. During the same period in the previous year, the firm earned $1.00 earnings per share. Silicon Motion Technology’s quarterly revenue was up 131.5% compared to the same quarter last year. On average, sell-side analysts expect that Silicon Motion Technology Corporation will post 10.20 EPS for the current year.

Silicon Motion Technology Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Thursday, November 5th will be paid a dividend of $0.5750 per share. The ex-dividend date of this dividend is Thursday, November 5th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 1.4%. This is a boost from Silicon Motion Technology’s previous quarterly dividend of $0.50. Silicon Motion Technology’s dividend payout ratio is presently 24.68%.

Analyst Upgrades and Downgrades

SIMO has been the subject of a number of recent research reports. China Renaissance started coverage on shares of Silicon Motion Technology in a research note on Wednesday, October 28th. They issued a “buy” rating and a $300.00 price objective for the company. Wall Street Zen cut shares of Silicon Motion Technology from a “buy” rating to a “hold” rating in a research report on Saturday. Roth Capital reaffirmed a “buy” rating and issued a $350.00 price target on shares of Silicon Motion Technology in a report on Thursday, July 30th. Weiss Ratings downgraded shares of Silicon Motion Technology from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, October 16th. Finally, Susquehanna lifted their price target on Silicon Motion Technology from $275.00 to $350.00 and gave the stock a “positive” rating in a research report on Friday, July 31st. Ten analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $328.75.

Silicon Motion Technology Company Profile

Silicon Motion Technology Corporation is a fabless semiconductor company that designs and markets NAND flash controllers and related storage solutions. Its products help manage data storage and retrieval in devices that use NAND flash memory. The company’s offerings include controllers for solid-state drives (SSDs), embedded storage such as eMMC and UFS, and removable storage products including memory cards and USB flash drives. Silicon Motion also develops firmware and other technologies for storage applications.